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Olin
đŸ‡ș🇾 NYSE:OLN
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Jun 30, 2023

Olin Q2 2023 Earnings Report

Announced second quarter 2023 results, reporting a net income of $146.9 million and adjusted EBITDA of $351.1 million.

Key Takeaways

Olin Corporation reported a net income of $146.9 million, or $1.13 per diluted share, for the second quarter of 2023. Adjusted EBITDA for the quarter was $351.1 million. The company expects full year adjusted EBITDA to be in the range of $1.4 billion.

Second quarter 2023 net income was $146.9 million, or $1.13 per diluted share.

Adjusted EBITDA for the second quarter 2023 was $351.1 million.

Share repurchases totaled $186.9 million in the second quarter 2023.

The company expects 2023 adjusted EBITDA to be in the $1.4 billion range.

Total Revenue
$1.7B
Previous year: $2.62B
-34.9%
EPS
$1.13
Previous year: $2.76
-59.1%
Gross Profit
$310M
Previous year: $665M
-53.3%
Cash and Equivalents
$161M
Previous year: $305M
-47.1%
Free Cash Flow
$238M
Previous year: $549M
-56.6%
Total Assets
$7.95B
Previous year: $8.68B
-8.3%

Olin

Olin

Olin Revenue by Segment

Forward Guidance

Olin expects third quarter 2023 results from its Chemical businesses to be lower than second quarter 2023 levels due to the difficult global economic environment and continued operating issues with the vinyl chloride monomer Freeport, Texas facility. Winchester business third quarter 2023 results are expected to increase sequentially from second quarter 2023 as international and domestic military growth is anticipated. Overall, Olin expects third quarter 2023 adjusted EBITDA to be approximately 10% lower than second quarter 2023 levels. Olin expects full year adjusted EBITDA to be in the range of $1.4 billion.

Positive Outlook

  • Winchester business third quarter 2023 results are expected to increase sequentially from second quarter 2023.
  • International and domestic military growth is anticipated.
  • Olin expects full year adjusted EBITDA to be in the range of $1.4 billion.
  • Prioritizing share repurchases from excess cash flow
  • Maintaining commercial discipline and “value-first” approach

Challenges Ahead

  • Difficult global economic environment
  • Continued operating issues with the vinyl chloride monomer Freeport, Texas facility
  • Third quarter 2023 results from Chemical businesses are expected to be lower than second quarter 2023 levels
  • Olin’s third quarter 2023 adjusted EBITDA is expected to be approximately 10% lower than second quarter 2023 levels.
  • Challenging demand environment

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Olin